Is there a statute of limitations on debt collection?

Yes, there is a statute of limitations on debt collection in California. The statute of limitations is four years for most forms of debt. This means that a creditor has four years to collect on a debt before it is considered uncollectable. The statute of limitations applies from the date of the last payment made or the date of the last written acknowledgment of the debt. The time limit can be extended if the debtor or creditor renews or reaffirms the debt in writing. Additionally, the statute of limitations may be suspended if a debtor or creditor enters into a payment plan that specifies the monthly payment amount and the length of the plan. In California, a creditor who tries to collect an expired debt may be in violation of debt collection laws and face legal action. Debtors who feel that their rights have been violated can contact their state attorney general’s office or the Federal Trade Commission for legal advice. It is important to note that the statute of limitations does not apply to all types of debt. For example, student loan debt is not subject to the statute of limitations and creditors may continue to collect on such debt. It is important for debtors to understand the laws related to debt collection in California as well as their rights and obligations related to debt.

Related FAQs

Can a debt collector call my references?
What happens if I can’t pay a debt collector?
Can a debt collector ever contact me via email or text message?
Can a debt collector threaten to take legal action against me for a debt?
Are there any exemptions from the Fair Debt Collection Practices Act?
Can a debt collector contact me if I’m on military deployment?
Is it illegal for a debt collector to call me repeatedly?
Can a debt collector contact me if I’m on Social Security Disability?
Can a debt collector contact me by phone or in person?
Can a debt collector ever sue me?

Is there a statute of limitations on debt collection?

Related FAQs

Related Blog Posts